Mr. Rudi Fronk reports

SEABRIDGE GOLD CLOSES US$100 MILLION IN FINANCINGS

Seabridge Gold Inc. has successfully closed its previously announced bought deal offering, co-led by RBC Capital Markets and Cantor Fitzgerald Canada Corp., consisting of 6.54 million common shares at the price of $12.25 (U.S.) per share for aggregate gross proceeds of approximately $80-million (U.S.).

Seabridge has also successfully closed its previously announced private placement with a strategic investor consisting of 1.64 million common shares on substantially the same terms as the bought deal offering for aggregate gross proceeds of approximately $20-million (U.S.). The common shares issued under the private placement are subject to a statutory four-month hold period under applicable securities laws.

Net proceeds will be used by the company to make the payments to B.C. Hydro contracted for completion of the KSM switching station; complete a program to collect all remaining anticipated field data for and undertake early value engineering to support, a KSM bankable feasibility study; finance other costs associated with continuing activities at the company's 100-per-cent-owned KSM gold-copper project in northeast British Columbia, Canada; and for general corporate purposes.

Seabridge chairman and chief executive officer Rudi Fronk said: "The financing ensures continued forward momentum at KSM while we engage with our short list of prospective joint venture partners. This year's program will provide the remaining field data that we anticipate will be required for the bankable feasibility study which we expect to undertake with our joint venture partner. It will also enable us to hold our priority status with B.C. Hydro for the low-cost green energy which makes KSM such a robust project economically. We will also be evaluating some of the engineering alternatives our prospective joint venture partners have proposed for advancing KSM."

The bought deal offering was made by way of a prospectus supplement to the company's base shelf prospectus and related U.S. registration statement on Form F-10 (SEC file No. 333-283616). The prospectus supplement was filed with the securities commissions in each of the provinces of Ontario, British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia and Yukon, and the United States Securities and Exchange Commission (the SEC). Access to the base shelf prospectus, the prospectus supplement and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The prospectus supplement (together with the related base shelf prospectus) is available on SEDAR+ and on the SEC's website. Alternatively, the prospectus supplement may be obtained upon request by contacting the company at 106 Front St. East, suite 400, Toronto, Ont., Canada, M5A 1E1, telephone 416-367-9292; RBC Dominion Securities Inc., 180 Wellington St. West, eighth floor, Toronto, Ont., M5J 0C2, attention: distribution centre, by e-mail at distribution.RBCDS@rbccm.com; RBC Capital Markets LLC, attention: equity capital markets, 200 Vesey St., New York, N.Y., 10281, by telephone at 877-822-4089 or by e-mail at equityprospectus@rbccm.com; Cantor Fitzgerald Canada Corp., attention: equity capital markets, 181 University Ave., suite 1500, Toronto, Ont., M5H 3M7, e-mail: ecmcanada@cantor.com; or Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at prospectus@cantor.com.

About Seabridge Gold Inc.

Seabridge holds a 100-per-cent interest in several North American gold projects. Seabridge's principal asset, the KSM project, and its Iskut project, are located in northwest British Columbia, Canada's Golden Triangle, the Courageous Lake project is located in Canada's Northwest Territories, the Snowstorm project in the Getchell gold belt of Northern Nevada and the 3 Aces project is set in Yukon.

We seek Safe Harbor.